NAB Asset Servicing bolsters transition services
Deutsche Securities Australia (Deutsche Bank) has signed a strategic alliance with NAB Asset Servicing to provide transition management services to the custodian's clients.
The deal allows NAB Asset Servicing to execute on front-end transitions.
Carl Spurling, general manager of capability delivery at NAB Asset Servicing, said that although NAB Asset Servicing had its own transition management team, clients would benefit from the holistic offering.
"Through our strategic alliance with Deutsche Bank, we are combining NAB's project management and pre-trade tax expertise experience in managing asset class transitions.
"By providing access to an established and reputable transition management service we are able to complement NAB's core custody transition service," he said.
Deutsche Bank has provided transition services to large institutional clients since 1997. David Fooley, Deutsche Bank's head of transition management, said the alliance signalled a new phase in its client offering.
NAB has retained a number of custody clients including Medibank and Telstra Super this year, while also picking up several new clients including HIP, JCP Investment Partners and Maple-Brown Abbott.
It built out its after-tax capabilities in August after forming a strategic alliance with GBST Holdings.
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